Wealthy taxpayers are rushing to prepare in case a more generous exemption from the estate tax expires at the end of 2025 along with many of the individual tax cuts from the Republicans' 2017 tax overhaul. 
In 2024, taxpayers are exempt from the 40% estate tax on the first $13.6 million of assets passed on to heirs.
But the exemption is set to fall by about half, practitioners estimate, if Congress doesn’t act to extend it.
People are moving money into different types of trusts now to take advantage of that higher exemption amount. 
Deloitte Managing Director Laura Hinson spoke to Bloomberg Tax reporter Erin Schilling about the most popular trust strategies and how to avoid “donor remorse.” 
Hinson also explains how the Supreme Court's recent decision Connelly v. United States will affect estate planning.
Produced by Matthew S. Schwartz.
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